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mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big gains. the investment side of the equation not showing big gains. that shows delays in hiring and defer meant by the fiscal cliff. it's clear that we are at a fork in the road. we can choose to enhance our role in the global economy by taking the situation and making responsible decisions or by deliberately slitting our own economic throats we'll lose what credibility we have left. i think we are at the fork in the road now. >> john, instilling confidence would be a big role for washington. you know, there isn't a great deal of confidence in washington. there is less in congress. at this
mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big...
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no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, bain got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if east serious, to come back to us with a counteroffer. >> not a no
no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a...
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Dec 8, 2012
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but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration, the white house has been very clear, they will not sign anything, even to get past december 31st. that doesn't include a debt ceiling of some sort. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also. i think the concern will be an administration overstepping or overreaching and trying to jam a debt limit inc
but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the...
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we don't mind paying more taxes. we're more concerned about the fiscal cliff. and so i think that again there are a lot of people that want to contribute. they know that there should be shared sacrifice. they realize that we cannot do this on the backs of our elderly, poor people and those in the middle class and those trying to get to the middle class on the backs of students. and i think they're saying, you know what? we can pay more because we want to do something that is good for our country. and hopefully that message will get through to the republicans and indeed the tea party folks. >> but if the ultimate goal here, sir, is to cut the national debt and sometimes people lose sight of that in the discussion here, the gop says the dems are just offering more spending and little in way of cutting. are democrats willing to give at all on entitlements? >> keep in mind, yes. and the president has made it clear. but we've got to look very carefully at the entitlements and realize that something like medicare, medicare right now you've got a situation where there
we don't mind paying more taxes. we're more concerned about the fiscal cliff. and so i think that again there are a lot of people that want to contribute. they know that there should be shared sacrifice. they realize that we cannot do this on the backs of our elderly, poor people and those in the middle class and those trying to get to the middle class on the backs of students. and i think they're saying, you know what? we can pay more because we want to do something that is good for our...
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Dec 8, 2012
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in terms of the fiscal cliff, higher taxes on everybody. one thing that will happen without an agreement, all the bush tax rates go away, so everyone's taxes are going to go up. you'll see that emphasized over the next couple weeks. you'll hear the white house talk about what a bad situation there will be after january 1 if this deal is not cut. >> david jackson, "usa today," shira toeplitz, "roll call." we appreciate your time so much we'll talk to you later in the hour as well. >> thank you. >>> the last remaining house race of the 2012 election cycle is pabt to come to a close. in louisiana, republican congressman charles boustany jr., jeff landry facing off in a runoff election. they were forced to run in the same district in bayou because of the state's shrinking congressional delegation. both conservative republicans, landry a tea party freshman. we'll keep you abreast of what happens. >>> meanwhile, high drama about to surround the high court as the justices agree to take on the high-stakes issue of same-sex marriage. ♪ >>> the man
in terms of the fiscal cliff, higher taxes on everybody. one thing that will happen without an agreement, all the bush tax rates go away, so everyone's taxes are going to go up. you'll see that emphasized over the next couple weeks. you'll hear the white house talk about what a bad situation there will be after january 1 if this deal is not cut. >> david jackson, "usa today," shira toeplitz, "roll call." we appreciate your time so much we'll talk to you later in the...
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the phenomenon known as the fiscal cliff. if that happens, it will trigger a recession, or worse. so, president obama is taking action and insisting that republicans agree to increase the existing marginal tax rates on the wealthiest top 2% of u.s. taxpayers. and of course, there is more to the deal. but there will be no negotiations on that big part of the deal unless that tax on the wealthiest 2% is negotiated now. the president could not be more emphatic in stressing the indispensable element of surmounting the cliff is that super-rich revenue. >> we're not insisting on rates just out of spite. or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. >> okay. here is john boehner, the republican house speaker. >> if you look at the plans that the white house have talked about thus far, they couldn't pass either house of the congress. >> republicans proposed raising $800 billion in extra revenues. and that revenue should come through tax reform and closing loopholes. happy new year. question, patrick, looking into the crystal bal
the phenomenon known as the fiscal cliff. if that happens, it will trigger a recession, or worse. so, president obama is taking action and insisting that republicans agree to increase the existing marginal tax rates on the wealthiest top 2% of u.s. taxpayers. and of course, there is more to the deal. but there will be no negotiations on that big part of the deal unless that tax on the wealthiest 2% is negotiated now. the president could not be more emphatic in stressing the indispensable...
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Dec 8, 2012
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in the struggle to avoid the fiscal cliff, senior citizens are fighting to protect their medicare, their social security benefits. >>> and the seersz series in the country's civil war compares it to living life in a grave. cnn is on the scene for us. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative ople are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or m
in the struggle to avoid the fiscal cliff, senior citizens are fighting to protect their medicare, their social security benefits. >>> and the seersz series in the country's civil war compares it to living life in a grave. cnn is on the scene for us. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage...
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Dec 8, 2012
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we arrest a number for the rest of the month under fiscal cliff. if you resell the dollar symbol the taxes has proposed, you'll make it 31 billion a year and they are requesting more than the kids for that. so we need to be stewards. yes, we want movement. guess he wants to work rate. before we make investment again, shouldn't be review the business? secondly, it's an issue that mr. denham raised. this is put before the california voters. guess it looks different today. as a california voter think you'd have go back because that's not what was proposed. it said there would be private funding. there is no proposed private funding as of today. there's no money in to question whether it will be in the future. so, does the federal government know that for the rest of the plan, which the voters asked for consent would come. if what the biggest funders of this, why would we not wait to what they said they would do? that is a question we all have to ask. thirdly, when you read the business plan and you live in my area, the number schist doughnut up. the m
we arrest a number for the rest of the month under fiscal cliff. if you resell the dollar symbol the taxes has proposed, you'll make it 31 billion a year and they are requesting more than the kids for that. so we need to be stewards. yes, we want movement. guess he wants to work rate. before we make investment again, shouldn't be review the business? secondly, it's an issue that mr. denham raised. this is put before the california voters. guess it looks different today. as a california voter...